Bitcoin plummeted to $ 91,500 in a flash

During Thanksgiving celebrations, the flagship crypto market BTC $100,722.80 Bitcoin -4.26% Market capitalization $1.99 trillion VOL. 24 hours $5.62 billion demonstrated significant volatility, reminiscent of the famous «Thanksgiving Massacre» of 2020. This time, the main cryptocurrency fell from almost $ 100,000 to $ 91,500, which means a decline of 8%.

For comparison, in 2020, Bitcoin lost 17% over the same period, but its value tripled in a few months. Despite the recent fluctuations — from $ 67,000 to $ 99,000 and then to $ 92,000 — Bitcoin remains a stable asset on the market.

Interest in cryptocurrencies continues unabated: large investors such as BlackRock are actively watching the market, and «whales» — investors with large capital — are likely to continue accumulating the asset.

Such volatility on Thanksgiving Day is already becoming commonplace in the bitcoin market, raising curiosity about future changes in the value of the leading crypto asset.

According to the analytical tracker CoinMarketCap, at the time of writing, the main virtual coin is trading at $ 95,838. The total number of coins circulating on the market is $ 1.9 trillion. Traders have made daily trading deals worth $ 47.3 billion. Bitcoin’s market share is 57%.